labels: investment - general, mutual funds
HSBC to launch equity tax saver fund news
02 July 2005

Mumbai: HSBC Mutual Fund is all set to launch an equity tax saver fund. According to the offer document filed with the Securities and Exchange Board of India, the fund seeks to generate long-term capital growth through investments across all market capitalisation stocks.

The scheme is an equity-linked savings scheme and has a lock-in period of three years. Investors subscribing to the fund would be charged an entry load of 2.25 per cent on investments below Rs5 crore. There is no exit load, according to the offer document.

The fund aims to be predominantly invested in equity and equity related securities, but will also invest in fixed income securities and money market instruments, it says. The offer document says that equity investments by the fund would be between 80-100 per cent and up to 20 per cent can be invested in debt and money market products.

The offer document with SEBI and is awaiting regulatory clearances.

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HSBC to launch equity tax saver fund